On 1 July 2019 Max Gawn Borrowed $50,000 from an International

On 1 July 2019 Max Gawn borrowed $50,000 from an International Bank for use in his business. Max incurred legal and accounting expenses of $2,000 in arranging the ten-year loan.
Which of the following statements is correct with regards to the Max's potential for an allowable deduction with regards to the costs of borrowing?

A) The costs associated with obtaining the loan are not deductible as they are capital
B) The costs associated with obtaining the loan can be written off over five years commencing on date that the loan was acquired.
C) The costs associated with obtaining the loan are fully deductible in the year in which they are incurred
D) The costs associated with obtaining the loan can be written off in equal instalments over the life of the loan.